In an era of what Donald Trump calls “Fake News”, this may not be good news to The Donald. A federal judge ruled on Tuesday that AT&T can move forward with its $85 billion acquisition of Time Warner.
President Trump tried different tactics in attempt to stop this transaction but it seems to be going through.
Judge Richard Leon of the U.S. District Court for the District of Columbia said at a hearing that he has found, after a six-week trial, that the deal does not violate antitrust law and can proceed.
The judge’s ruling will likely be seen by tech and telecom giants as a green light to pursue a slew of major media acquisitions.
CNN is owned by Time Warner.
This is a developing story. More to come…